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Obama: Republicans Threaten Gains in Reforming Financial Sector

   VOA News 23 October 2010
   US President Barack Obama records the weekly address, 23 Oct 2010

Photo: White House/Samantha Appleton

   US President Barack Obama records the weekly address, 23 Oct 2010

   U.S.   President   Barack  Obama  is  warning  voters  the  Republican
   leadership  wants  to  reverse  the  Wall Street Reform bill, which he
   considers  one of the biggest victories for the middle class in years.
   Â
   During  his  weekly  broadcast  address  Saturday,  the president said
   Republican  Party legislators are putting political gains ahead of the
   bill  that  provides  protection  from abusive financial practices and
   risky mortgages.
   The  president,  who  heads  the  Democratic Party, said the bill also
   protects  taxpayers  from  ever  again  bailing  out  large  financial
   institutions on the verge of collapse.
   Mr.  Obama  says  any  repeal  of  the  financial reforms would impact
   efforts aimed at stabilizing the economy.
   In the Republican address Saturday, Senator John Thune of South Dakota
   repeated  party  objections  to  Mr.  Obama's use of stimulus money to
   jump-start the economy.
   Senator  Thune  also  denounced the president's overhaul of the health
   care system and his plans not to extend tax breaks for the wealthy.

   Some information for this report was provided by AP.

   Watch President Obama's weekly address:

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